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Pangaea Regional Center Initial Designation and Actual Project

1.
September 13, 2013
JAMES JOSEPH GILLAS
PANGAEA REGIONAL CENTER, LLC
P.O. 2149
GALVESTON, TX 77553
Application: Form I-924, Application for Regional Center under the Immigrant Investor Pilot
Program
Applicant: James Joseph Gillas
Re: Initial Regional Center Designation
Pangaea Regional Center
RCW1310051120/ID1310051120
This notice is in reference to the Form I-924, Application for Regional Center Under the Immigrant Investor
Pilot Program that was filed by the applicant with the U.S. Citizenship and Immigration Services (“USCIS”)
on April 5, 2013. The Form I-924 application was filed to request approval of initial regional center
designation under the Immigrant Investor Program. The Immigrant Investor Program was established under
section 610 of the Department of Commerce, Justice and State, the Judiciary, and Related Agencies
Appropriations Act of 1993 (Pub. L. 102-395, Oct. 6, 1992, 106 Stat. 1874).
In addition to the Form I-924, the applicant seeks USCIS review and approval of an actual project supported
by a comprehensive business plan as contemplated in Matter of Ho, 22 I. & N. Dec. 206 (Assoc. Comm’r
1998).
I. Executive Summary of Adjudication
Effective the date of this notice, USCIS approves the Form I-924 request to designate Pangaea Regional
Center, LLC as a qualifying participant in the Immigrant Investor Program.
1. Effective the date of this notice, USCIS approves the Riverine Fisheries International, LLC project
based on the evidence submitted with the I-924 application.
U.S. Citizenship and Immigration Services
Immigrant Investor Program
Washington, DC 20529

2.
Pangaea Regional Center, LLC
ID 1310051120
RCW 1310051120
Page 2
II. Regional Center Designation1
USCIS approves the applicant’s request to focus, promote economic growth, and offer capital investment
opportunities in the following geographic area and industry categories:
A. Geographic Area
State Counties/Cities
Kentucky Fulton Graves Hickman
Tennessee Obion Weakley
B. Industry Categories
NAICS Industry Name
1141 Fishing
3117 Seafood Product Preparation and Packing
III. The Project
Effective the date of this notice, USCIS approves the applicant’s request to include the following actual capital
investment project.
Project Type of
Project
Organization Documents Date of Document
Riverine Fisheries
International, LLC
Geographic Location:
City of Hickman,
Fulton County,
Kentucky
Focus of Investment:
loan
Actual
Project
Business Plan Incorporated into the
Private Placement
Memorandum dated
03/21/2013
Economic Analysis Dated 03/20/2013
Operating Agreement Submitted 04/05/2013
Confidential Private Placement
Memorandum
Dated 03/21/2013
Note: If changes to this project and its supporting documents are found in subsequent Form I-526 or Form I-
829 petitions, USCIS will review the supporting documents once more to ensure compliance with EB-5
program requirements.
1
USCIS issued a Policy Memorandum (PM-602-0083) on the subject of “EB-5 Adjudication Policy,” dated May 30,
2013, stating that formal amendments to the regional center designation are no longer required when a regional center
changes its industries of focus or geographic boundaries. A regional center may still elect to pursue a formal
amendment by filing Form I-924 if it seeks certainty in advance that changes in the industries or the geographic area
will be permissible prior to filing Form I-526 petitions.

3.
Pangaea Regional Center, LLC
ID 1310051120
RCW 1310051120
Page 3
The proposal identifies the proposed regional center as the new commercial enterprise (“NCE”). The project
is located in the City of Hickman, Kentucky. Twenty-five (25) immigrant investors will subscribe to the NCE
as limited partners in exchange for capital contributions of $500,000 each and an aggregate of $12,500,000.
The NCE will loan the $12,500,000 of EB-5 capital to a third-party entity, Riverine Fisheries International,
LLC, identified in this approval as the “project.” The EB-5 capital loan proceeds will be used to launch
operations of a seafood preparation and packaging business and a commercial fishing business with the
primary focus on Asian carp. The project will take more than two (2) years to complete and will generate
approximately 318 jobs.
Job Creation
USCIS approves the geographic area and industry categories noted above based on the economic impact
analysis presented and reviewed in conjunction with the adjudication of this capital investment project.
USCIS notes, as does the applicant’s economist, that there is no NAICS code data for seafood preparation and
packaging or commercial fishing for the five-county impact area. Consequently, there are no employment
multipliers for these industries in the impact area. To derive multipliers, the economist used industry
category multipliers discounted to reflect the average difference between industry category and individual
industry NAICS multiplier values. While greater delineation of NAICS codes and hence their associated
multipliers are highly desirable, USCIS recognizes that the applicant is using the data that is available and is
discounting the multipliers in a manner that appears reasonable and prudent. The resulting job creation
methodology presented in the economic impact analysis and underlying business plan is found to be
reasonable based on the following inputs, when applying the RIMS II economic model:
Category
NAICS
code2
Eligible
Spending/Revenue
Impact3
Direct Effect
Employment
Multiplier
Total
Job
Creation
Direct
Jobs
Indirect
Jobs
Seafood
Preparation and
packaging 3117 121 Direct jobs 2.42 292 121 171
Commercial
Fishing
Operations 1141 21 Direct jobs 1.24 26 21 5
Totals n/a n/a 318 142 176
The approval of this Form I-924 application is based upon the assumptions and estimates used as inputs in
the business plan for job creation. Please refer to the input and multiplier analysis table above.
When an actual project is specifically named in this notice and the critical inputs remain materially
unchanged, USCIS will give deference to the job creation methodology when adjudicating Forms I-526
2 USCIS recognizes that no RIMS II multipliers exist for the two NAICS categories within the project’s
geographical area and that the multipliers used were extrapolated from RIMS II data.
3 While USCIS policy defines all jobs held outside of the NCE as “indirect,” USCIS recognizes that these jobs
represent persons directly employed by the job creating enterprise and not estimates of employment
calculated through an economic model. To avoid confusion, USCIS references these as “direct jobs” in this
table while noting that these jobs are actually “indirect” jobs for purpose of establishing EB-5 eligibility.

4.
Pangaea Regional Center, LLC
ID 1310051120
RCW 1310051120
Page 4
associated with the named project. The same business plan and the same reasonable job creation
methodology and projected inputs must be submitted when the individual investor’s Form I-526 is filed in
order to receive deference.
It will be the responsibility of the individual investor to demonstrate that the assumptions and estimates
presented as inputs to the job creation methodology remain materially unchanged when he or she files a
Form I-526.
If the job creation estimated in the business plan materially changes or will not be realized, then it will be the
responsibility of the EB-5 investor to notify USCIS of an agreed upon methodology to allocate job creation
among eligible investors.
IV. Guidelines for Filing Form I-526 Petitions Based on the Riverine Fisheries International, LLC
Project
Each individual petition, in order to demonstrate that it is affiliated with the Pangaea Regional Center, LLC, in
conjunction with addressing all the requirements for an individual immigrant investor petition, shall also
contain the following:
1. A copy of this regional center approval notice and designation letter including all subsequent
amendment approval letters (if applicable).
2. An economic impact analysis which reflects a job creation methodology required at 8 CFR § 204.6
(j)(4)(iii) and shows how the capital investment by an individual immigrant investor will create not
fewer than ten (10) indirect jobs for each immigrant investor.
3. A comprehensive, detailed and credible business plan for an actual project that contains the factual
details necessary to be in compliance with the requirements described in Matter of Ho.
4. Legally executed organizational documents of the commercial enterprise. The documents may be the
same documents noted in Section III of this approval notice.
Note: If the project timeline has changed significantly from the original business plan, a narrative that
explains the changes in the project timeline, along with a timeline that realistically reflects the status of the
project should be submitted.
V. Designee’s Responsibilities in the Operations of the Regional Center
As provided in 8 C.F.R. § 204.6 (m)(6), to ensure that the regional center continues to meet the
requirements of section 610(a) of the Appropriations Act, a regional center must provide USCIS with
updated information to demonstrate the regional center is continuing to promote economic growth,
improved regional productivity, job creation, and increased domestic capital investment in the approved
geographic area. Such information must be submitted to USCIS on an annual basis or as otherwise requested
by USCIS. The applicant must monitor all investment activities under the sponsorship of the regional center
and to maintain records in order to provide the information required on the Form I-924A Supplement to
Form I-924. Form I-924A, Supplement to Form I-924 Application is available in the “Forms” section on the
USCIS website at www.uscis.gov.

5.
Pangaea Regional Center, LLC
ID 1310051120
RCW 1310051120
Page 5
Regional centers that remain designated for participation in the Immigrant Investor Program as of September
30th of a calendar year are required to file Form I-924A Supplement in that year. The Form I-924A
Supplement with the required supporting documentation must be filed on or before December 29th of the
same calendar year.
The failure to timely file a Form I-924A Supplement for each fiscal year in which the regional center has
been designated for participation in the Immigrant Investor Program will result in the issuance of an intent to
terminate the participation of the regional center in the Immigrant Investor Program, which may ultimately
result in the termination of the designation of the regional center.
The regional center designation is non-transferable.
If the applicant has any questions concerning the regional center designation under the Immigrant Investor
Program, please contact the USCIS by email at USCIS.ImmigrantInvestorProgram@uscis.dhs.gov.
Sincerely,
Daniel M. Renaud
Acting Chief, Immigrant Investor Program
cc: DEBBIE ANN KLIS
BALLARD AND SPAHR, LLP
4800 MONTGOMERY LANE, 7TH FLOOR
BETHESDA, MD 20814